Chevrolet Corvette Insurance Rates

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How Much Does 2024 Chevrolet Corvette Insurance Cost?

Looking for the cheapest insurance rates for your Chevrolet Corvette? Comparing and finding more affordable coverage rates for Driversinsurance is always challenging for drivers not familiar with online comparison shopping. You have so many options that it can easily become more work than you anticipated to lower your prices. You should take the time to do rate comparisons at least once a year bec...

Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

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UPDATED: Apr 4, 2024

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Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

The average insurance rates for a Chevrolet Corvette are $1,790 a year with full coverage. Comprehensive insurance costs approximately $494 each year, collision insurance costs $922, and liability is $264. Liability-only coverage costs around $312 a year, and high-risk coverage costs $3,870 or more. Teenage drivers cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates by type of insurance:

Comprehensive $494
Collision $922
Liability $264

Estimates include $500 deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Prices are averaged for all U.S. states and Corvette models.

Price Range Variability

For a driver around age 40, Chevrolet Corvette insurance rates range from as low as $312 for just liability insurance to a high rate of $3,870 for a driver that may need high-risk insurance.

Liability Only $312
Full Coverage $1,790
High Risk $3,870

Urban vs. Rural Price Range

Choosing to live in a large city can make a big difference on the price of insurance. Rural locations are shown to have a lower frequency of collision claims than densely populated cities. The graphic below illustrates the difference between rural and urban areas on auto insurance prices.

Rural Areas $1,343
Small Cities $1,880
Large Cities $2,417

The examples above demonstrate why all drivers should compare rates quotes using their specific location and risk profile, instead of making a decision based on average rates.

Use the form below to get customized rates for your location.

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

More Rate Details

The chart below details average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

  • The best discount rate is $977
  • Raising to $1,000 deductibles will save $320 annually
  • The average rate for a good driver age 40 who chooses $500 deductibles is $1,790
  • Using low deductibles will cost an extra $628 annually
  • Drivers who are prone to accidents and violations could pay around $3,870
  • Policy cost for full coverage for a 16-year-old driver can cost $6,090

View Chart as Image

Chevrolet Corvette insurance cost comparison chart
Column chart showing Chevrolet Corvette insurance prices range from $977 to $6,090 for full coverage

Insurance rates for a Chevrolet Corvette also range considerably based on your risk profile, the trim level and model year, and physical damage deductibles and liability limits.

More mature drivers with no violations or accidents and high deductibles may pay as low as $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay in the ballpark of $6,000 a year. View Rates by Age

Your home state also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find rates as low as $1,290 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay as much as $2,410 on average in New York, Michigan, and Florida.

Chevrolet Corvette Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,618 -$172 -9.6%
Alaska $1,374 -$416 -23.2%
Arizona $1,486 -$304 -17.0%
Arkansas $1,790 -$0 0.0%
California $2,040 $250 14.0%
Colorado $1,710 -$80 -4.5%
Connecticut $1,838 $48 2.7%
Delaware $2,026 $236 13.2%
Florida $2,236 $446 24.9%
Georgia $1,652 -$138 -7.7%
Hawaii $1,286 -$504 -28.2%
Idaho $1,214 -$576 -32.2%
Illinois $1,334 -$456 -25.5%
Indiana $1,348 -$442 -24.7%
Iowa $1,210 -$580 -32.4%
Kansas $1,700 -$90 -5.0%
Kentucky $2,438 $648 36.2%
Louisiana $2,650 $860 48.0%
Maine $1,104 -$686 -38.3%
Maryland $1,478 -$312 -17.4%
Massachusetts $1,430 -$360 -20.1%
Michigan $3,106 $1,316 73.5%
Minnesota $1,498 -$292 -16.3%
Mississippi $2,146 $356 19.9%
Missouri $1,590 -$200 -11.2%
Montana $1,924 $134 7.5%
Nebraska $1,412 -$378 -21.1%
Nevada $2,148 $358 20.0%
New Hampshire $1,292 -$498 -27.8%
New Jersey $2,000 $210 11.7%
New Mexico $1,586 -$204 -11.4%
New York $1,884 $94 5.3%
North Carolina $1,030 -$760 -42.5%
North Dakota $1,466 -$324 -18.1%
Ohio $1,236 -$554 -30.9%
Oklahoma $1,836 $46 2.6%
Oregon $1,644 -$146 -8.2%
Pennsylvania $1,706 -$84 -4.7%
Rhode Island $2,386 $596 33.3%
South Carolina $1,622 -$168 -9.4%
South Dakota $1,510 -$280 -15.6%
Tennessee $1,566 -$224 -12.5%
Texas $2,156 $366 20.4%
Utah $1,324 -$466 -26.0%
Vermont $1,222 -$568 -31.7%
Virginia $1,074 -$716 -40.0%
Washington $1,382 -$408 -22.8%
West Virginia $1,644 -$146 -8.2%
Wisconsin $1,238 -$552 -30.8%
Wyoming $1,592 -$198 -11.1%

View Chart as Image

Chevrolet Corvette insurance rates by U.S. city

Using high physical damage deductibles can reduce rates by up to $950 annually, whereas increasing liability limits will push rates upward. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $237 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you may be forking out anywhere from $2,100 to $2,800 additional every year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 46% to 132% more than a normal policy. View High Risk Driver Rates

Insurance Rates by Trim Level and Model Year

Chevrolet Corvette Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
Chevrolet Corvette 2-Dr Coupe $1,482 $124
Chevrolet Corvette GS 2-Dr Coupe $1,652 $138
Chevrolet Corvette 2-Dr Convertible $1,796 $150
Chevrolet Corvette GS 2-Dr Convertible $1,878 $157
Chevrolet Corvette Z06 2-Dr Coupe $1,820 $152
Chevrolet Corvette ZR1 2-Dr Coupe $2,342 $195

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

Chevrolet Corvette Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Chevrolet Corvette $516 $930 $258 $1,814
2023 Chevrolet Corvette $494 $922 $264 $1,790
2022 Chevrolet Corvette $478 $900 $274 $1,762
2021 Chevrolet Corvette $462 $862 $284 $1,718
2020 Chevrolet Corvette $436 $832 $292 $1,670
2019 Chevrolet Corvette $420 $772 $298 $1,600
2018 Chevrolet Corvette $402 $728 $300 $1,540
2017 Chevrolet Corvette $386 $652 $304 $1,452
2016 Chevrolet Corvette $360 $600 $304 $1,374
2015 Chevrolet Corvette $348 $562 $306 $1,326
2014 Chevrolet Corvette $340 $526 $312 $1,288
2013 Chevrolet Corvette $314 $488 $312 $1,224
2012 Chevrolet Corvette $306 $442 $316 $1,174
2011 Chevrolet Corvette $286 $406 $312 $1,114
2009 Chevrolet Corvette $260 $330 $310 $1,010
2008 Chevrolet Corvette $256 $322 $304 $992
2007 Chevrolet Corvette $252 $308 $298 $968
2006 Chevrolet Corvette $230 $292 $294 $926
2005 Chevrolet Corvette $222 $278 $292 $902

Rates are averaged for all Chevrolet Corvette models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.

How to Find Low Cost Chevrolet Corvette Insurance

Finding cheaper rates on insurance for a Chevrolet Corvette consists of not taking risks behind the wheel, having a good credit history, not filing small claims, and consideration of higher deductibles. Set aside time to compare rates once a year by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The following is a review of the data that was covered above.

  • You may be able to save around $230 per year just by quoting online in advance
  • Insureds who purchase higher liability limits will pay an extra $290 every year to raise from a 30/60 limit to 250/500 limits
  • Teens are the costliest to insure, as much as $508 each month including comprehensive and collision insurance
  • Drivers considered higher risk who have several accidents or serious violations pay on average $2,080 more per year for Corvette insurance

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

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What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

  1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model

Rates by Driver Age

Chevrolet Corvette Insurance Rates by Driver Age
Driver Age Premium
16 $6,090
20 $4,104
30 $1,912
40 $1,790
50 $1,626
60 $1,596

Full coverage, $500 deductibles

Rates by Deductible

Chevrolet Corvette Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,418
$250 $2,126
$500 $1,790
$1,000 $1,470

Full coverage, driver age 40

Rates by Liability Limit

Chevrolet Corvette Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,790
50/100 $2,395
100/300 $2,461
250/500 $2,632
100 CSL $2,421
300 CSL $2,566
500 CSL $2,672

Full coverage, driver age 40

Rates for High Risk Drivers

Chevrolet Corvette Insurance Rates for High Risk Drivers
Age Premium
16 $8,826
20 $6,534
30 $4,006
40 $3,870
50 $3,684
60 $3,652

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $256

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $101
Multi-vehicle $91
Homeowner $22
5-yr Accident Free $151
5-yr Claim Free $120
Paid in Full/EFT $97
Advance Quote $97
Online Quote $134
Total Discounts $813
Rate after discounts $977

Discounts are estimated and may not be available from every company or in every state.

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